[228 Pages Report] The next-generation sequencing market is projected to reach USD 16.35 billion by 2024 from USD 4.83 billion in 2017, at a CAGR of 19.2% during the forecast period.

Years Considered for the Study

Base Year: 2017

Estimated Year: 2018

Forecast Period: 20182024

Objectives of the Study

To define, describe, and forecast the next-generation sequencing (NGS) market based on product & service, technology, application, end user, and region

To provide detailed information regarding the major factors influencing market growth (drivers, restraints, and opportunities) along with the current trends

To strategically analyze micromarkets with respect to their individual growth trends, prospects, and contributions to the total market

To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

To forecast the revenue of the market segments with respect to four regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Spain, Italy, the Netherlands, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), and the Rest of the World (RoW)

To profile the key players and comprehensively analyze their market shares and core competencies

To track and analyze competitive developments such as product launches & approvals; agreements, partnerships, and collaborations; acquisitions; and expansions in the next-generation sequencing market

Research Methodology

This research study involved the usage of extensive secondary sources, directories, and databases such as D&B, Bloomberg Business, and Factiva, along with government databases, to identify and collect information useful for this technology-based, market-oriented, and commercial study of the next-generation sequencing market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as to assess future prospects.

The secondary sources referred to for this research study include corporate filings (such as annual reports, SEC filings, investor presentations, and financial statements); research journals; press releases; as well as articles published by various NGS players and professional associations.

Product Analysis

Company Information

The global next-generation sequencing market is projected to reach USD 16.35 billion by 2024 from USD 5.70 billion in 2018, at a CAGR of 19.2% during the forecast period. Factors such as advancements in NGS platforms, declining NGS capital cost coupled with the decreasing cost of sequencing, and improving regulatory & reimbursement scenario for NGS-based diagnostic tests are expected to drive the growth of the next-generation sequencing market.

Based on end user, the next-generation sequencing market is segmented into academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, and other end users. Among these, the academic institutes & research centers segment is expected to account for the largest share of the next-generation sequencing market in 2018, owing to the increasing number of collaborations between NGS market players and academic & research institutions, favorable funding scenario for genomic research across regions, and the development of cost-efficient NGS products and services for researchers.

This report covers the next-generation sequencing market in North America (US and Canada), Europe (Germany, France, the UK, Spain, Italy, the Netherlands, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), and the Rest of the World (RoW). North America is expected to account for the largest share of the global next-generation sequencing market in 2018, followed by Europe. The large share of North America is mainly attributed to the increasing application of NGS in diagnostics and genomics research, availability of research funding, and development of NGS data analysis solutions.

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As of 2017, Illumina (US) dominated the global next-generation sequencing market through its broad product portfolio, strong geographical presence, and wide customer base across the globe. To maintain its leadership position in the market, the company has been focusing on technological advancements in the field of sequencing. Thermo Fisher Scientific (US) held the second position in the global next-generation sequencing market. Other prominent players in this market include Pacific Biosciences of California, Inc. (US), BGI (China), PerkinElmer (US), Agilent Technologies (US), QIAGEN N. V. (Germany), Macrogen Inc. (South Korea), Oxford Nanopore Technologies, Ltd. (UK), and Eurofins Scientific (Luxembourg).

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